The global management consultancy to global financial service providers, Synpulse, has announced its partnership with FinTech incubator F10.
Synpulse will invest the equivalent of 1 per cent of its annual revenue into the startup accelerator F10, as part of the funding round in the mid-single-digit million range announced by F10.
Synpulse and F10 are well aligned, with a focus on financial services and startups. This provides a natural opportunity for the two companies to identify the most promising startups and support them in fuelling rapid growth. In addition, it provides Synpulse the chance to pinpoint the new services that could become relevant to its customers - a win-win for more established brands and innovative challengers alike. Synpulse Switzerland CEO, . Raphael Bianchi joined the F10 Board to directly contribute to the strategic direction and innovation of the growing Fintech ecosystem.
In addition to providing management consultancy to banking and insurance brands, Synpulse offers end-to-end technology solutions through its tech powerhouse, Synpulse8. This puts it in a unique position to support clients across their entire value chain.
The funds are intended to allow F10 to grow both into new geographies, as well as in its current hubs in Europe and Asia. F10 corporate partners will benefit directly through early access to startups selected across all global programs and exposure to a growing global network of partners, startups, and investors, as well as increased deal flow and collaboration support.
The industry is rapidly expanding, with the global fintech market expected to grow at a compound annual growth rate of 23.58 per cent from 2021 to 2025.
Raphael Bianchi, Senior Partner and CEO of Synpulse, Switzerland, said: “F10 provides vital support in discovering and growing the new innovative services and talented teams that our industry needs. FinTechs have brought a revolution to what has always been a very traditional industry. By working together, we hope to make global connections between the most innovative solutions that are being created and the more established players whose adoption will make them part of the mainstream.”
CEO and Co-Founder of F10 Andreas Iten added: “We are incredibly excited about Synpulse’s investment into F10 and about the synergies that this creates. F10 startups will also benefit greatly from Synpulse’s global network. We are looking forward to jointly pushing innovation in the financial industry further.”
